IDEAL AUTOMOBILES ANNOUNCED UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2024, SHOWING TOTAL QUARTERLY REVENUE OF RMB256 BILLION AND TOTAL VEHICLE DELIVERIES OF 80,400 VEHICLES, AN INCREASE OF 52.9% YEAR-ON-YEAR. The gross margin was 20.6%, which remained relatively stable compared to the same period last year. However, the company had an operating loss of RMB584.9 million and a net profit of RMB591.1 million, down 36.7% from the same period last year. Ideal Cars launched new models during the reporting period, including the Ideal MEGA and Ideal L6, and expanded its retail and after-sales network nationwide. The company expects deliveries in the second quarter of 2024 to reach 105,000 to 110,000 vehicles. Ideal Car CEO Li Xuan said that the company will continue to focus on improving operational efficiency and creating more value for users. Chief Financial Officer Li Tei added that despite the challenges, the company's financial performance remained solid and was confident of future delivery growth.

IDEAL AUTOMOBILES ANNOUNCED UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2024, SHOWING TOTAL QUARTERLY REVENUE OF RMB256 BILLION AND TOTAL VEHICLE DELIVERIES OF 80,400 VEHICLES, AN INCREASE OF 52.9% YEAR-ON-YEAR. The gross margin was 20.6%, which remained relatively stable compared to the same period last year. However, the company had an operating loss of RMB584.9 million and a net profit of RMB591.1 million, down 36.7% from the same period last year. Ideal Cars launched new models during the reporting period, including the Ideal MEGA and Ideal L6, and expanded its retail and after-sales network nationwide. The company expects deliveries in the second quarter of 2024 to reach 105,000 to 110,000 vehicles. Ideal Car CEO Li Xuan said that the company will continue to focus on improving operational efficiency and creating more value for users. Chief Financial Officer Li Tei added that despite the challenges, the company's financial performance remained solid and was confident of future delivery growth.